Fitch cuts BRB VR to b+

Fitch Ratings said it affirmed the long-term issuer default ratings of BRB – Banco de Brasilia SA and downgraded the viability rating to b+ from bb-.

Fitch said the downgrade of the viability rating is due to the bank's weak performance in 2015 and 1Q16, affected by a sharp increase in credit costs, reflecting vulnerabilities of its asset quality. In addition, the bank's capitalization should also suffer from the weak internal capital generation, the agency said.

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